Diversified Royalty (TSE:DIV) Rating Lowered to Hold at Cibc World Mkts

Cibc World Mkts lowered shares of Diversified Royalty (TSE:DIV - Free Report) from a strong-buy rating to a hold rating in a research note issued to investors on Monday morning, Zacks.com reports.

DIV has been the subject of several other research reports. Cormark decreased their target price on shares of Diversified Royalty from C$4.25 to C$4.00 in a research report on Monday, February 26th. Raymond James set a C$3.40 price objective on Diversified Royalty and gave the stock an outperform rating in a report on Thursday, February 8th. Finally, CIBC downgraded Diversified Royalty from an outperform rating to a neutral rating in a research note on Monday.

Diversified Royalty Stock Performance

TSE:DIV traded down C$0.02 during trading hours on Monday, reaching C$2.82. 179,422 shares of the stock were exchanged, compared to its average volume of 246,283. Diversified Royalty has a 52 week low of C$2.35 and a 52 week high of C$3.05. The company has a quick ratio of 1.74, a current ratio of 0.69 and a debt-to-equity ratio of 128.77. The stock has a market capitalization of C$464.34 million, a P/E ratio of 12.82 and a beta of 1.58. The firm has a 50 day simple moving average of C$2.85 and a 200-day simple moving average of C$2.76.

Diversified Royalty (TSE:DIV - Get Free Report) last posted its quarterly earnings results on Thursday, March 21st. The company reported C$0.06 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of C$0.05 by C$0.01. Diversified Royalty had a net margin of 56.15% and a return on equity of 13.46%. The company had revenue of C$16.39 million for the quarter, compared to the consensus estimate of C$16.84 million. As a group, sell-side analysts forecast that Diversified Royalty will post 0.1807838 earnings per share for the current fiscal year.

Diversified Royalty Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Friday, May 31st. Shareholders of record on Wednesday, May 15th will be paid a dividend of $0.021 per share. The ex-dividend date is Tuesday, May 14th. This represents a $0.25 annualized dividend and a yield of 8.94%. Diversified Royalty's dividend payout ratio (DPR) is presently 113.64%.

Diversified Royalty Company Profile

Diversified Royalty Corp., a multi-royalty corporation, engages in the acquisition of royalties from multi-location businesses and franchisors in North America. It owns the Sutton, Mr. Lube + Tires, AIR MILES, Mr. Mikes, Nurse Next Door, Oxford Learning Centres, Stratus Building Solutions, and BarBurrito trademarks.